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I'm thinking that QE 3 has become politically unsalable....if that is the only thing holding this market up I wouldn't be long here....
The rise in the dollar has some anti-QE types on the political right reconsidering their positions . . . I think the Fed has sufficient cover from rising weekly jobless claims and the strong dollar for another program of some type.
Yes-The Federal Reserve should expand their balance sheet and create more reserves that will remain backed up in FRB's once again without creating any additional lending in the financial system.Yeah that's a great idea-Not.